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Kederstedt, Daniel

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Svenska Dagbladet - Sweden | 21/06/2012

Billions in aid prove Obama's failure

The US Federal Reserve decided on Wednesday to boost the country's ailing economy with 267 billion US dollars. Not only will that increase the risk of inflation, it also shows that President Barack Obama's policies have achieved nothing, writes the conservative daily Svenska Dagbladet: "The head of the Federal Reserve has long had a very careful attitude as far as new monetary policy stimuli are concerned. Again and again - like today - Ben Bernanke has made it clear that he wants to have all the cards on the table before using the heaviest ammunition and switching on the money press for the third time since the start of the financial crisis. Even if the Fed is not taking political action, it is nonetheless clear that this decision also has the backing of Barack Obama. There is no doubt that the country is facing economic difficulties. But printing more money will not only raise the danger of inflation, for many people it is also a clear indication that the president's efforts have borne no fruit."

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